Joint implementation. A mechanism under the Kyoto Protocol through which a developed country can receive emission reduction units (ERUs) when it helps to finance projects that reduce net greenhouse-gas emissions in another developed country. In practice, the recipient state is likely to be a country with an "economy in transition" (see EIT). Through financing such projects, developed countries can earn saleable carbon credits, that can be counted towards meeting their commitment under the Kyoto Protocol (see also Emissions trading). An Annex I Party must meet specific eligibility requirements to participate in JI.